SoundHound AI Inc (NASDAQ:SOUN) shares, rose in value, with the stock price up by 3.74% to the previous day’s close as strong demand from buyers drove the stock to $4.16.
Actively observing the price movement in the last trading, the stock closed the session at $4.01. Referring to stock’s 52-week performance, its high was $10.25, and the low was $1.49. On the whole, SOUN has fluctuated by -28.40% over the past month.
With the market capitalization of SoundHound AI Inc currently standing at about $1.29 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024 – May 13, 2024.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SOUN’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SOUN currently trading nearly -10.63% and -22.45% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.42, while the 7-day volatility ratio is showing 12.75% which for the 30-day chart, stands at 9.81%. Furthermore, SoundHound AI Inc (SOUN)’s beta value is 3.29, and its average true range (ATR) is 0.57.
A comparison of SoundHound AI Inc (SOUN) with its peers suggests the former has fared considerably weaker in the market. SOUN showed an intraday change of 3.74% in last session, and over the past year, it grew by 84.07%%.
Data on historical trading for SoundHound AI Inc (NASDAQ:SOUN) indicates that the trading volumes over the past 3 months, they’ve averaged 64.36 million. According to company’s latest data on outstanding shares, there are 309.12 million shares outstanding.
Nearly 16.01% of SoundHound AI Inc’s shares belong to company insiders and institutional investors own 19.19% of the company’s shares. The stock has risen by 96.23% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SOUN stock heading into the next quarter.
